Hot Sauce Fun Fact - Global Hot Sauce Market Trends
Hot Sauce is spicing up the whole world!
According to the latest report by IMARC Group, titled “Hot Sauce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global hot sauce market reached a value of US$ 4.5 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Hot sauce or chili sauce is prepared using chili peppers mixed with other ingredients like salt, vinegar, vegetables, fruits, garlic, etc. It is commercially made by combining chili pepper paste with red tomato puree, which is then cooked to achieve a distinct flavor. Hot sauce adds a complementary or spicy flavor to a variety of dishes. As a result, it is used as a condiment, dressing, and seasoning ingredient in numerous cuisines worldwide.
The increasing popularity of Pan Asian, African, and Latin American cuisines across the globe is one of the key factors for the global hot sauce market growth. Moreover, the introduction of new and innovative sauce flavors that are also beneficial to health is further augmenting the demand for different hot sauce variants worldwide. In addition to this, the growing consumption of processed and frozen foods, particularly among the working population, has also led to an increased usage of hot sauce, thereby creating a positive impact on the market. Additionally, the expanding urban population, wide product availability in flexible packaging materials, and introduction of organic product variants, are some of the other factors catalyzing the growth of the global hot sauce market.